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IWM pushes through previous session high


Technical Analysis Report for IWM - May 17, 2018 [< 1 min read]
Highlights
IWM closes higher for the 3rd day in a row
IWM pushes through previous session high
IWM rises to highest close since Inception
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, IWM finished Thursday at 161.66 gaining $0.74 (0.46%). Today's closing price of 161.66 marks the highest close since Inception. Closing above Wednesday's high at 161.32, the ETF confirms its breakout through the prior session's high having traded $0.68 above it intraday.

Daily chart for IWM
Volatility

Thursday's trading range was $1.25 (0.78%), that's below last trading month's daily average range of $1.90. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
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